DOVER, DE / ACCESSWIRE / March 15, 2021 / Hero Technologies (OTC PINK:HENC) a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it has executed an agreement to purchase 40 acres of land in Moffat, Colorado. The company plans to use the land for year-round cannabis cultivation, both in greenhouses and outdoors. The company plans on closing on or before March 30th and close the deal with Summit Resources LLC.
The land is likely to be assigned and held by the company's new subsidiary for Colorado operations and acquisitions, Mile High Green LLC. As previously announced, we will use the Mile High Green entity to acquire land, property, and licenses. We expect to work with Vincente Sederberg to obtain a cannabis license for cultivation.
After closing, the deal would expand the company's footprint in the strategically important Colorado cannabis market. In 2012, Colorado became one of the first two states in the US, along with Washington, to legalize recreational marijuana. Annual cannabis sales in the state increased 25% in 2020 to a record $2.2 billion. Since legalization, cannabis sales in Colorado have reached a cumulative total of over $10 billion.
"We are very excited about acquiring land for cannabis cultivation in Colorado," said Hero Technologies' CEO Gina Serkasevich. "Clearly, the state is a large and important market for cannabis, and establishing integrated operations there should help us accelerate our ‘seed to sale' go-to-market strategy."
About Hero Technologies
Hero Technologies Inc. is a cannabis company working toward a vertically-integrated business model. The company owns a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased harvest efficiencies. The company's strategic business plan includes cannabis genetic engineering, farmland for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multi-state operator (MSO).
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include: management plans relating to the proposed project; the expected timing of the completion of the proposed project; the ability to complete the proposed project; any statements of the plans and objectives of management for future operations, products or services, including the execution of plans proposed project; any statements of expectation or belief; projections related to certain financial metrics; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are typically identified by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "project," "seek," "should," "target," "will," "would" and other similar words and expressions or negatives of these words. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and are beyond our control. Forward-looking statements speak only as of the date they are made. Neither Hero Technologies Inc. nor its holding company or subsidiaries assumes any duty and does not undertake to update any forward-looking statements. Because forward-looking statements, by their nature, are uncertain or assumptive to varying degrees, actual results or future events could differ, possibly materially, from those that Hero Technologies Inc., its holding company or subsidiaries anticipated in the forward-looking statements, and future results could differ materially from historical performance.
Hero Technologies Contact:
Ms. Gina Serkasevich, CEO
SOURCE: Hero Technologies Inc.